RTA launches Phase II Study of Intelligent Traffic Systems Initiative
Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion...
Economy
Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Science
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
- Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
- Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Business
Global medical and recovery tourism worth $100bn annually: Official
The revenues of the medical and recovery tourism, globally, is around $100 billion annually, said Bandar Al Fihaid, President of the...
- Bandar Al Fihaid, President of the Arab Tourism Organization (ATO) said this in a report.
- The ATO president also said that Arab tourists expenditure amounts to nearly $30 billion.
Economy
Turkey to resume drilling for gas near Cyprus: minister
Turkey next month will resume drilling operations near the divided island of Cyprus, a top official said Wednesday, threatening to...
- Turkey had been drilling near waters claimed by its historic rival Greece and the self-declared Turkish Republic of Northern Cyprus (TRNC) recognized only by Ankara
- The 2020 crisis was smoothed over when Turkey pulled back a research vessel from the resource-rich region and halted its drilling operation near the island
Economy
IMF says talks continue on aid program for Tunisia
The North African country has seen its economy crippled by a crisis exacerbated by the coronavirus pandemic and the war...
- The North African country has seen its economy crippled by a crisis exacerbated by the coronavirus pandemic and the war in Ukraine, which has sent public debt soaring
- Fund officials had "productive" discussions with Tunisian authorities over the past two weeks, and talks "will continue over the coming weeks towards a staff-level agreement
Economy
Moody’s says Saudi economy to post 3.9% growth rate
Moody’s has projected the economy of Saudi Arabia to post growth rate of around 3.9 percent from 2022 to 2026.
- The credit rating agency has issued a report elaborating on Saudi Arabia’s credit profile in terms of economic strength, institutional and governance strength and fiscal strength,
- The report emphasized that Saudi Arabia’s credit strengths are derived from its robust government balance sheet, underpinned by moderate debt levels and substantial fiscal reserve
Economy
Libyans at boiling point amid summer power cuts
The people of Libya are enduring electricity cuts of up to 18 hours a day, despite their country sitting atop...
- The electricity crisis is just the latest trial for Libyans after a decade of insecurity, fuel shortages
- Many of Libya's seven million people have turned to unreliable, gas-guzzling and polluting generators for electricity
Economy
New business licenses in Dubai grow 25% in H1 of 2022
Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25 percent compared...
- Dubai issued 45,653 new business licenses in the first half (H1) of 2022, a growth of 25 percent compared to the same period last year
- The numbers reaffirm the success of the government's innovative new strategic approaches and policy amendments
Business
Dubai Metaverse Assembly in Sept to host 300 global experts
The assembly will host more than 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.
- The global event brings together regional and international experts in Dubai to shape the future of the metaverse.
- It explores how technology can be deployed across vital sectors to create better future and quality of life for humanity.
Business
Investments in Saudi startups grow by 244 percent in H1 2022
Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the...
- In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a report by the venture data platform, MAGNiTT.
- The report said the kingdom advanced to become the second-most active VC market in MENA by number of deals, which rose by 36 percent to 79 deals in H1 2022.
Geostrategy
Egypt President says world must jointly deal with energy crisis
Egypt's President Abdul Fattah Al-Sisi underscored the importance of coordination and cooperation among all countries of the world to confront...
- Egypt's President Abdul Fattah Al-Sisi said global coordination and cooperation is necessary to deal with the energy crisis
- He said Egypt is determined to coordinate with friendly countries to tackle tension in its neighborhood
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
RTA launches Phase II Study of Intelligent Traffic Systems Initiative
Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion...
Economy
Company News
Yahsat to invest US$100m
Business
Latest News
Multiply Group buys stake
Business
There’s a link between health and climate change
“As we prepare for the groundbreaking Health Day at COP28, we are resolute in our determination to address the challenges...
Economy
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
Economy
UAE’s $1.5 bn bond issue oversubscribed five times
Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the...
Economy
Most Read
Business
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...
- The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
- They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
Infographics
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
- High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
- The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Business
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
- The acquisition is vital for EIH as it seeks to strengthen its investment in healthcare through its subsidiary Health Plus Holding.
- The move will help provide additional and sustainable value to investors and achieve the maximum return on investment.